A negative amount
Better than a debit
An entry on the right hand side of an account
Beneficial to the business
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Indicates an increase in expenses incurred
Indicates an increase in owner's equity.
May indicate a drawing by the owner.
An interest free liability.
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Asset, debit
Expense, debit
Revenue, debit
Liability, credit
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It discloses the complete effect of a transaction
It provides a chronological record of transactions
It helps to prevent errors because debit and credit amounts for each entry can be readily compared.
It keeps in one place all the information about changes in specific account balances.
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A credit was made to an asset account.
A decrease in an expense.
A decrease in a liability
A credit in a dividends account.
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Journalize, analyze, post in ledger.
Analyse, journalize, post in ledger
Journalize, post in ledger, analyze
Journalyze, post in ledger, analyze.
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Revenues increase owner's equity
Revenues have normal credit balance.
Revenues are increased by credits.
Revenues are increased by debits
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The date of the transactions.
A brief explanation of the transaction
The balance of the accounts in the entry.
The accounts and the amounts to be debited and credited.
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In account number order.
In alphabetical order..
In chronological order.
Annually.
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The right side of an account.
Used to increase an asset.
The left side of an account.
Both a and b.
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Enter transactions in a journal.
Transfer journal information to ledger account.
Prepare the trial balance.
Analyze each transaction
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A trial balance proves the mathematical equity of debits and credits after posting.
A trial balance proves that all transactions have been correctly recorded.
A trial balance uncovers errors in journalizing and posting
A trial balance is useful in the preparation of financial statements.
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Asset account
Expense account
Drawing account
Capital account
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The number of debits accounts must equal the number of credit accounts.
There must always be entries made on both sides of the accounting equation.
The amount of the credits must equal the amount of the debit.
There must always be entries made on both sides of the accounting equation.
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